Business News

5 things you need to know today

1. ASIC is planning to put as many as 50 matters before the courts in the coming months according to the AFR, which quoted ASIC deputy chair Daniel Crennan as saying that "There are a very large number of investigations on foot and there will be cases being issued in coming weeks, which are the result of those investigations."

2. The federal government is planning to introduce all the legislation required to implement Hayne royal commission recommendations before the end of 2020. "The need for change is undeniable, and the community expects that the government’s response to the royal commission will be implemented swiftly," Treasurer Josh Frydenberg told the AFR.

3. In the latest Newspoll published by The Australian, the Coalition is leading Labor 51-49 in the two-party-preferred vote, down from 53-47. 

4. Auction clearance rates across the country rose to a two-year high of 76.6% according to preliminary figures from CoreLogic, with Sydney and Melbourne reporting the highest clearance rates of 81.7% and 78.3%, respectively

5. Wall Street stocks recovered on Friday with gains of at least 1.2% for the Dow Jones, S&P 500 and the Nasdaq. All three major indexes were still down for the week, with the Dow Jones falling 1.5%, the S&P 500 dropping 1.0% and the Nasdaq dow 0.8%.

Published on: Monday, August 19, 2019

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